ASSET LOSS ENTRY

[AL12000]

I have a pass thru corporation that had a 7 year fixed asset that I disposed 

of after 3 years. The asset was listed as other business property and had to

be left behind when a branch office was closed. How do I enter the remaining value of the item as a loss on my return? I used straight line depreciation. 

[Mike9241]

go into the asset listing and indicate it was sold for zero, however, you messed up. if you use straight-line you're using the ADS systems (Tutbotax doesn't handle this well) and then the depreciable life of 7 years for MACRS becomes 10 years for ADS. At this point ignore the overdetection. 

[AL12000]

Thanks, I was using MACRS thankfully and was able to resolve my issue in the way suggested.

I appreciate your input.